What Next for Rapid7, Inc. (RPD) After Forming Bullish Wedge Up Chart Pattern?

December 7, 2017 - By Maria Brooks

The stock of Rapid7, Inc. (RPD) formed an up wedge with $20.03 target or 6.00 % above today’s $18.90 share price. The 7 months wedge indicates low risk for the $829.35M company. If the $20.03 price target is reached, the company will be worth $49.76 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 2.16% or $0.4 during the last trading session, reaching $18.9. About 162,848 shares traded. Rapid7, Inc. (NASDAQ:RPD) has risen 56.77% since December 8, 2016 and is uptrending. It has outperformed by 40.07% the S&P500.

Analysts await Rapid7, Inc. (NASDAQ:RPD) to report earnings on February, 8. They expect $-0.28 earnings per share, down 27.27 % or $0.06 from last year’s $-0.22 per share. After $-0.27 actual earnings per share reported by Rapid7, Inc. for the previous quarter, Wall Street now forecasts 3.70 % negative EPS growth.

Rapid7, Inc. (NASDAQ:RPD) Ratings Coverage

Among 13 analysts covering Rapid7 (NASDAQ:RPD), 12 have Buy rating, 0 Sell and 1 Hold. Therefore 92% are positive. Rapid7 had 29 analyst reports since August 11, 2015 according to SRatingsIntel. The stock of Rapid7, Inc. (NASDAQ:RPD) has “Buy” rating given on Wednesday, November 8 by RBC Capital Markets. The stock of Rapid7, Inc. (NASDAQ:RPD) has “Buy” rating given on Monday, October 23 by Needham. As per Tuesday, August 8, the company rating was upgraded by Susquehanna. Raymond James initiated it with “Outperform” rating and $26 target in Tuesday, August 11 report. The rating was maintained by Northland Capital on Thursday, October 5 with “Buy”. On Tuesday, August 11 the stock rating was initiated by Morgan Stanley with “Equal-Weight”. Barclays Capital upgraded Rapid7, Inc. (NASDAQ:RPD) rating on Friday, October 9. Barclays Capital has “Overweight” rating and $28 target. As per Friday, August 26, the company rating was initiated by Rosenblatt. Pacific Crest initiated Rapid7, Inc. (NASDAQ:RPD) on Tuesday, August 11 with “Overweight” rating. The firm earned “Outperform” rating on Tuesday, August 11 by William Blair.

More important recent Rapid7, Inc. (NASDAQ:RPD) news were published by: Globenewswire.com which released: “Rapid7 to Host Investor & Analyst Day” on December 07, 2017, also Streetinsider.com published article titled: “Rapid7, Inc. (RPD) Tops Q3 EPS by 2c, Beats on Revenues; Boosts FY17 EPS …”, Globenewswire.com published: “Rapid7 Announces New, Consolidated Global Headquarters in Boston” on November 16, 2017. More interesting news about Rapid7, Inc. (NASDAQ:RPD) was released by: Globenewswire.com and their article: “Rapid7 Named a Visionary in the Gartner Magic Quadrant for Security …” with publication date: December 06, 2017.

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